Avail Personal Loan with a credit score as low as 685 or higher

However, while the personal loan eligibility criteria list it as a mandatory requirement, availing the same with a low credit score is possible too. Acting upon the following measures can help you get a personal loan even with a credit score below 685 or higher.

Ways to get personal credit with a CIBIL score below 685 or higher

• Opt for a lower loan amount
  Bajaj Finserv sanctions personal loans of up to Rs. 40 lakh. However, if you possess a score lower than the minimum CIBIL score required for a personal loan, you may apply for a lower amount. This reduces the risk on the part of the lender and increases the chances of approval.

• Show a stable source of income sufficient for EMI payments
  Lenders will be reluctant to sanction loans in case your income is low. A stable source of monthly income enhances your personal loan eligibility.

• Opt for higher interest rates
  Bajaj Finserv offers personal advances at competitive rates of interest for its customers. However, if your credit score is not at par, you may opt for higher interest rates to increase your chances of loan approval.

• Apply along with a co-applicant
  Applying along with a co-applicant increases eligibility to avail of the loan. It is because the creditworthiness of the co-applicant is considered along with that of the primary applicant.

Once you keep a check on all these pointers, you may proceed to apply for a personal loan with Bajaj Finserv, even if your credit score is below 685 or higher.